Demand on commercial space on the rise – CREDAI IT parks like Tidel, KGiSL and India Land Tech Parks are expanding and opportunity for employment is increasing

November 21, 2017 comail General Comments Off on Demand on commercial space on the rise – CREDAI IT parks like Tidel, KGiSL and India Land Tech Parks are expanding and opportunity for employment is increasing

 

With Coimbatore being one of the best smart cities in the country and the recent announcement of metro plans for it, the Confederation of Real Estate Developers’ Association of India (CREDAI) is all set to conduct the 9th edition of FAIRPRO 2017, an exclusive property show, starting from  24th – 26th  Nov, 2017 at Codissia Hall “A”.

100 plus properties on both residential and commercial units, starting from budget home to  luxury home, will be displayed for sale in the expo, where more than 35 developers and 7 leading banks and financial institutions have joined with CREDAI for the spot approval of home loans, says a release.

The FAIRPRO will have the EMI of 8.35%, the lowest ever in the past 10 years.

We are expecting business up to 86 crore through the 9th edition of the FAIRPRO – 2017, Rajesh Lund, President, CREDAI Coimbatore said.

In a press meet Lund said that the past two years had been a real challenge for the real estate sector. “Due to the sudden implementation of demonetization and the introduction of GST later on, an industry like the real estate, which contributes 5%-6% of India’s GDP, has faced lots of uncertainties in the past two year,” he said.

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However, the changes made by the central government in its policies over the past few years seem to be a good sign that the real estate sector has already started adopting and the industry will definitely show a good growth  in the upcoming months,” Lund added.

According to Lund, a lot more announcements regarding the development of the region will be announced by the Chief Minister of Tamil Nadu during his visit to the region on December 2nd 2017. “Since the day it was announced the smart city, the region has seen lots of development. Commercial places like TIDEL Park, India Land Tech Park and KGiSL are filled by companies and they are also planning to expand their operations due to the rising demand for space,” Lund noted.

The Coimbatore CREDAI President feels that the real estate industry will have a big growth during the next few years because of huge employment opportunities in the construction industry and also the interests shown by the IT industries in setting shop here.